Markets corrected some of yesterday’s Big rally by dipping back down about 1/2 way down. The next Resistance on the S&P 500 is the Pink Line (10-day avg.) at 2499. The Markets are extremely Over-Sold and should back up towards the Green Line once the temporary Fear subsides. High levels of human emotion are difficult to maintain for long periods of time.
The FEAR Index is very high, normally indicating a Market bounce soon.
Crude Oil was down $1.01 today at $45.12.
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The Following Investments will probably have a Money Wave Buy Signal soon.
(Slow Stochastic Closing > 20) on today’s Close.
BUYS TODAY
CIEN CIENA CORP. Money Wave Buy today. Target is $36.00. Place Sell Stop Loss below Support of $30.77 on the Close.
ETSY ETSY, INC. Money Wave Buy today. Target is $55.00. Place Sell Stop Loss below Support of $42.00 on the Close.
LLY ELI LILLY Place Buy Stop Above $111.54.
MCD MCDONALDS CORP. Medium Term Buy today. Target is $184.00. Place Sell Stop Loss below Support of $169.04 on the Close.
SBUX STARBUCKS CORP. Medium Term Buy today. Target is $68.00. Place Sell Stop Loss below Support of $60.42 on the Close.
Money Wave Buys Signals Soon:
VZ VERIZON COMM
XLNX XILINX, INC.
XLU UTILITIES FUND
Please be patient and wait for Money Wave Buy Signals. We will email you when they are ready. Click on Watch List.
Emotions are very high now, so please do not Buy unless you are VERY NIMBLE. The Leaders are still Way Above the Green Lines (all Investments eventually return to their Green Lines).
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SELLS TODAY
LOWER the Sell Stop Loss on VKTX VIKING THERA. to $6.50 until it bottoms.
Please Check PORTFOLIO (Open Positions) and adjust your Sell Stops.
Click for CLOSED POSITIONS.
Many like to Buy the day before, near the Close, if the Money Wave is going to create a Buy Signal (Closing > 20).
Don’t Buy if the Investment has already popped up too much. Money Wave Buys are usually good for a 3-6 % move in a few days. We will “Not Log” trades if the Reward/Risk is not at least 2:1.